Lang Walker, the real estate developer who shaped much of postwar Australian suburban living, has died at 78.
Mr Walker, one of the country’s richest businessmen, was the founder of Walker Corporation, his family’s private property development group. His death was confirmed by a family member on Sunday.
“It’s so sad, our family will be releasing a statement at midday,” they told The Australian Financial Review in a text message.
Lang Walker in 2021, at one of his major developments in South Australia. Ben Searcy
Mr Walker, with an estimated wealth of $5.8 billion according to the Financial Review Rich List, had been ill for some time and recently returned home from hospital. Walker Corporation could not be reached on Sunday.
The company, one of Australia’s largest property developers, bounced back strongly from the pandemic in 2021-22, recording a net profit of $483m, up from $174m the prior year. Mr Walker and his father, civil engineer Alec Walker, helped pioneer the quarter-acre block in the 1960s.
More to come.